Insurance

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The Philippine Star
Monday, June 16, 2008
Page B-16

RUSHAN CITY, CHINA – Sumilon Island Tankers, Inc. (SITI), a tanker division of the Magsaysay Transport and Logistics Group, recently announced the launch of its new 3,800-deadweight ton double-hull tanker M/T Mactan Island.

I. GENERAL PROCEDURES

1. Own Damage - Property

You may have the car repaired at our accredited repair shop or opt for a cash settlement. For the convenience of our clients, our Head Office and any branch may settle claims against policies obtained from other branches.

For claims amounting to PhP15,000 or less, Pioneer Fastbreak offers fast and fair settlement of claims within 3 hours. Note that Fastbreak is done only at our Head Office in Makati.

1. Cash Settlement

I.   GENERAL PROCEDURES

1. In the event of an incident, immediately send notice of loss to the following:

   1. Your insurance broker (or us, if you obtained your insurance directly from Pioneer)

   2. The Classification Society (if the vessel involved is Classed)

   3. The P&I Club (if the incident involves a potential third-party liability)

The notice of loss may be sent through phone to be followed by a written advice and should include the following information:

   1. Name of vessel involved

I. GENERAL PROCEDURES

For all types of General Accident policies, the following procedure shall generally apply. The procedure will vary from one type of policy to another only in terms of documents that we require you to submit to enable us to process your claim.

    1. Immediately send notice to us or to your broker/agent.

    2. You will then receive a corresponding acknowledgement letter from us indicating our next course of action, i.e.:

I. GENERAL PROCEDURES

    1. Immediately send notice of loss to us or to the broker/agent from whom you purchased the fire insurance policy.

    2. Protect the properties affected or not affected from further loss or damage and/or deterioration, as if the property has no insurance coverage.

    3. Submit a proof of loss duly signed and sworn by you within sixty (60) days from the date of loss. It should include:

        1. The knowledge and belief of the time/origin of the loss